NXDR Iron Condor Strategy
NXDR (Nextdoor Holdings, Inc.), in the Communication Services sector, (Internet Content & Information industry), listed on NYSE.
Nextdoor Holdings, Inc. operates as a holding company, which engages in the provision of a social network site connecting with neighborhood and businesses. The company was founded by Nirav Tolia in 2008 and is headquartered in San Francisco, CA.
NXDR (Nextdoor Holdings, Inc.) trades in the Communication Services sector, specifically Internet Content & Information, with a market capitalization of approximately $812.8M, a beta of 1.29 versus the broader market, a 52-week range of 1.33-3.72, average daily share volume of 3.7M, a public-listing history dating back to 2021, approximately 546 full-time employees. These structural characteristics shape how NXDR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.29 places NXDR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on NXDR?
An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes.
Current NXDR snapshot
As of May 15, 2026, spot at $2.04, ATM IV 85.50%, IV rank 27.30%, expected move 24.51%. The iron condor on NXDR below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this iron condor structure on NXDR specifically: NXDR IV at 85.50% is on the cheap side of its 1-year range, which means a premium-selling NXDR iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 24.51% (roughly $0.50 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NXDR expiries trade a higher absolute premium for lower per-day decay. Position sizing on NXDR should anchor to the underlying notional of $2.04 per share and to the trader's directional view on NXDR stock.
NXDR iron condor setup
The NXDR iron condor below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With NXDR near $2.04, the first option leg uses a $2.14 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NXDR chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 NXDR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.14 | N/A |
| Buy 1 | Call | $2.24 | N/A |
| Sell 1 | Put | $1.94 | N/A |
| Buy 1 | Put | $1.84 | N/A |
NXDR iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit.
NXDR iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on NXDR. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
When traders use iron condor on NXDR
Iron condors on NXDR are a delta-neutral premium-collection structure that profits if NXDR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
NXDR thesis for this iron condor
The market-implied 1-standard-deviation range for NXDR extends from approximately $1.54 on the downside to $2.54 on the upside. A NXDR iron condor is a delta-neutral premium-collection structure that pays off when NXDR stays inside the inner short strikes through expiration; the wing width should reflect the trader's tolerance for the maximum loss scenario where the underlying breaches an outer strike. Current NXDR IV rank near 27.30% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on NXDR at 85.50%. As a Communication Services name, NXDR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NXDR-specific events.
NXDR iron condor positions are structurally neutral / range-bound; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. NXDR positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NXDR alongside the broader basket even when NXDR-specific fundamentals are unchanged. Short-premium structures like a iron condor on NXDR carry tail risk when realized volatility exceeds the implied move; review historical NXDR earnings reactions and macro stress periods before sizing. Always rebuild the position from current NXDR chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on NXDR?
- A iron condor on NXDR is the iron condor strategy applied to NXDR (stock). The strategy is structurally neutral / range-bound: An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes. With NXDR stock trading near $2.04, the strikes shown on this page are snapped to the nearest listed NXDR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NXDR iron condor max profit and max loss calculated?
- Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit. For the NXDR iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 85.50%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a NXDR iron condor?
- The breakeven for the NXDR iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current NXDR market-implied 1-standard-deviation expected move is approximately 24.51%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a iron condor on NXDR?
- Iron condors on NXDR are a delta-neutral premium-collection structure that profits if NXDR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current NXDR implied volatility affect this iron condor?
- NXDR ATM IV is at 85.50% with IV rank near 27.30%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.